JPMorgan Survey Reveals More Than Half of Institutional Traders Averse to Crypto Exposure
JPMorgan's recent survey of over 4,000 institutional traders revealed that 78% do not have plans to trade cryptocurrencies in the next five years.
Because Bitcoin
February 8, 2024
CoinDesk reported that JPMorgan's recent survey of over 4,000 institutional traders revealed that 78% do not have plans to trade cryptocurrencies in the next five years. A small subset of respondents identified blockchain/distributed ledger technology (DLT) as the most influential technology shaping the future of trading over the next three years. This marks a decline in enthusiasm for blockchain technology compared to previous years.
Artificial intelligence (AI) and machine learning emerged as the dominant technologies anticipated to have the most impact on trading over the next three years, with 61% of participants predicting their influence, up from 53% the previous year. Interestingly, blockchain was considered more influential in 2022, tying with AI at 25%, but has seen a decline to 12% in 2023 and further to 7% in 2024.
While the interest in blockchain may have waned, the survey noted a slight increase in the number of active institutional traders in the digital currency sector. Currently, 9% of participants are trading crypto, up from 8% in 2023, and 12% plan to engage in crypto trading within the next five years.
In terms of macro events expected to influence the broader market this year, survey participants identified inflation (27%), the U.S. election (20%), and recession risk (18%) as the top three catalysts.
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